My parents took out life insurance for $5,000 for each of them. They paid for a pre-need policy, I didn't realize it was "first-come, first served". In other words, the first to die would be able to use the benefits from the pre-need policy as well as the life insurance.
My mother passed away 3 years ago at the age of 83. The cost of her services came to a little over $11,000. My father was given a check for $2,000. After my mother passed it was up to me to handle their finances. When I looked through their bank statements, I found that my father was still paying for his policy. The policy states that the benefits he would receive would be the face value of the policy which is $5,000.
According to my calculations, he has paid more than the $5,000. I called the insurance company who said he would get the face value plus any additional funds he paid.
Have you heard of this before? My father is 92 years old. He is in a nursing home with Alzheimer's Disease. Funds are still coming out of his check by the insurance company.